New Dual Licensing Regime by ADGM and DED

PUBLICATIONS / Articles / 2018 / New Dual Licensing Regime by ADGM and DED

Abu Dhabi Global Market (ADGM) and Abu Dhabi Department of Economic Development (ADDED) agree on Duel Licensing Regime.  

 

In addition, now ADGM registered entities can apply for a license issued by ADDED to conduct business activities outside the borders of ADGM, without the requirement to maintain additional office space in Abu Dhabi mainland. Such development has increased the ease of conducting business from ADGM.  
The MOU will permit an entity to have two licenses to engage in activities within ADGM and in the mainland.  

 

However, ADGM entities having business activity on financial services to customers in onshore Abu Dhabi will remain subject to any other relevant regulatory requirements and applicable laws which may be imposed on the mainland by the Federal regulators (such as the UAE Central Bank). 
 

The dual licensing regime aims to boost business activity from ADGM into mainland Abu Dhabi, and increase the competitiveness of ADGM and Abu Dhabi as business centers in the region. 
 

About ADGM 
 

Abu Dhabi Global Market (ADGM) is an international financial centre established for business and located in the capital city of the United Arab Emirates from 21st October 2015. 
 

In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a trustworthy and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a vital role in positioning Abu Dhabi as a global centre for business and finance connecting the growing economies of the Middle East, Africa and South Asia. 


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